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Determine profit under variable and absorption costing

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Question - The following information are taken away from the books of Nehemiah Company, which assumes first-in, first-out (FIFO) for inventory cost flow: Inventory (in units) 2019 2020

Beginning inventory None ?

Production 10,000 units 9,000 units

Ending inventory 3,500 units 1,000 units

Sales (P 2 per unit) ? ?

Variable manufacturing costs (P0.75 per unit) P7,500 P6,750

Fixed manufacturing costs P5,000 P5,400

Selling and administrative expenses (50% variable) P4,500 P7,500

Required -

Determine 2019 profit under variable and absorption costing.

Determine 2020 profit under variable and absorption costing.

Reference no: EM132827696

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